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INSOLVENT ESTATES (LIQUIDATIONS)

When may an insolvent apply for rehabilitation?

An insolvent is a debtor whose estate (everything, including money, that a
person owns) is under sequestration (has been placed under control until certain
statutory provided time periods and/or prescribed conditions have been met). If
you are married in community of property and your spouse becomes insolvent, the
Insolvency Act, 1936, considers you to be insolvent as well in light of the fact
that there is only one joint estate.

Who can apply for rehabilitation?

 * The insolvent himself or herself
 * The insolvent’s duly authorised agent, if the insolvent does not live in
   South Africa
 * The widow or widower of an insolvent, if they were married in community of
   property
 * The former spouse of an insolvent, if they were married in community of
   property
 * The executors of the deceased estate of an insolvent

How soon after having been sequestrated can an insolvent apply for
rehabilitation?

For more specific details, please read sections 119 to 129 of the Insolvency Act
24 of 1936 as amended:

At any time

 * If an offer of composition is made and accepted by three quarters of
   creditors in number and value, and after payment has been made or security
   given, or;
 * If all creditors' claims and sequestration costs are paid in full

Six months

 * After six months of sequestration if no claims have been proven against the
   estate, provided the insolvent has not been convicted of certain offences and
   has not previously been sequestrated; 

Twelve months

 * If the insolvent has not been convicted of certain offences and has not
   previously been sequestrated, he may apply for rehabilitation after 12 months
   have elapsed from the date of the Master's confirmation of the first
   trustee's account in the estate;

Three years

 * If the insolvent has not been convicted of certain offences, but has
   previously been sequestrated, he may not apply for rehabilitation until three
   years have elapsed from the date of the Master's confirmation of the first
   trustee's account in the estate;

Five years

 * If the insolvent has been convicted of certain offences, he may not apply for
   rehabilitation until five years have elapsed from the date of his
   conviction; 

Ten years

 * After 10 years have expired an insolvent is deemed to be rehabilitated unless
   a court orders otherwise upon the application of an interested person. Such
   an application must be made within the ten year period.

Please contact an attorney or your nearest Office of the Master for more
information and assistance regarding the steps to follow to apply for
rehabilitation. The following link will take you to the forms related to
Insolvent Estates.

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This is a very busy and complex division which supervises the administration of
thousands of insolvent estates every year. 

Estates are usually administered by professionals, who know the functions and
procedures.  Although insolvency procedures are too complex to explain in a page
or two, the information below may be of interest to the public.

As from the 01 April 2018, all Requisitions lodged to the Masters Offices Must
be Original. No Copies, Emails or Faxed Requisitions will be accepted. The
Section 9(3) Security will also be increased to the amount of R30 000-00 as from
the 01 April 2018.


 * Follow this link to view the full Policy on the Appointment of Insolvency
   Practitioners, GG 38088 GoN 798, 17 Oct 2014 [214mb]
 * Follow this link to view the Chief Master's Directive 2015-01 - Appointments
   in terms of the national list of Insolvency Practitioners [416KB]
 * Procedural steps in the various Liquidation/Sequestration processes [75kb]
 * Update to Master’s Fees in Insolvencies and Liquidation: Administration of
   Estates Act: Regulations: Amendment(English/Afrikaans) GG 41224, GoN 1163, 3
   Nov 2017

 * Follow this link for New Applicants and the List of Active Insolvency
   Practitioners and all other related information
   
   
 * Insolvency Workshop’s Resolutions - Resolutions taken at Insolvency Workshops
   (Updated: 30/04/2019)
   
   
 * Insolvency Dashboards ( Excel files)
   The information in this processes dashboard is provided without any
   representations or warranties, express or implied. The Department of Justice
   and Constitutional Development, Master’s Branch and its officials or
   functionaries are not responsible for the correctness of the information
   contained in this processes dashboard provided by other parties and do not
   accept liability for damage or loss based or resulting from reliance on the
   information. The purpose of this processes dashboard is merely to ensure
   transparency in the insolvency process.

   > Insolvency Files opened as from 01 Nov 2016
   > 
   >  * Bloemfontein.xlsx [Dated: 20 Dec 2018]
   >  * Cape Town.xlsx [Dated: 23 Nov 2017]
   >  * Durban.xlsx [Dated: 15 Feb 2019]
   >  * Grahamstown.xlsx [Dated: 26 Nov 2019]
   >  * Johannesburg.xlsx [Dated: 07 Oct 2019]
   >  * Kimberley.xlsx [Dated: 29 Jun 2018]
   >  * Mafikeng.xlsx [Dated:18 Feb 2019]
   >  * Pietermaritzburg.xlsx [Dated: 28 Jul 2018]
   >  * Port Elizabeth.xlsx [Dated: 04 Oct 2019]
   >  * Pretoria.xlsx [Dated: 22 Nov 2019]
   > 
   >  
   > 
   > Insolvency Files opened Apr 2015 - Oct 2016
   > 
   >  * Bloemfontein.xlsx [Dated: 20 Dec 2018]
   >  * Cape Town.xlsx [Dated: 23 Nov 2017]
   >  * Durban.xlsx [Dated: 25 Jan 2019]
   >  * Grahamstown.xlsx [Dated: 07 Nov 2016]
   >  * Johannesburg.xlsx [Dated: 07 Oct 2019]
   >  * Kimberley.xlsx [Dated: 29 Jun 2018]
   >  * Mafikeng.xlsx [Dated: 18 Feb 2019]
   >  * Pietermaritzburg.xlsx [Dated: 28 Jul 2018]
   >  * Port Elizabeth.xlsx [Dated: 29 Apr 2019]
   >  * Pretoria.xlsx [Dated:22 Nov 2019]

 * New Companies, 2008 (Act 71 of 2008) [1.2MB] and the Regulations (Part A
   [2.95MB], Part B [4.13MB] and Part C [8.48MB]) under the Act.

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NOTICE TO STAKEHOLDERS: INSOLVENCIES AND LIQUIDATIONS – MASTER POLOKWANE

Kindly take note that as from 1 January 2018, all Insolvency and Liquidation
matters where Court orders are issued in the Limpopo High Court or voluntary
liquidations where the registered address falls within the jurisdiction of the
Limpopo Province, will be dealt with in the Master of the High Court, Polokwane.

Please ensure that all documentation, including notices of motion, Court orders
and requisitions for these matters are submitted in the at the Master’s Office.
Polokwane.

Your cooperation in this regard is much appreciated.

By: Office of the Chief Master
06 Decembver 2017

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